China Iron & Steel Association (CISA) asks its members to control the iron ore import volume strictly according to steel production and inventory.

   According to Luo Bingsheng, vice chairman of CISA, the overmuch import in January-April made a serious overstock at China's ports, which reached 79.22 million tons as of May 15, growing by 50 percent as against the beginning of the year and hitting a record high.

   The overstock not only prolonged ships' port waiting time to seven to ten days, but also made economic losses and affected the freight. Calculating on the average C.I.F price of 129.47 US dollars per ton, the iron ore stock at ports occupied a total 10.26 billion yuan in the first four months of 2008.

   Besides, the overmuch import is harmful to the health and steady growth of international iron ore shipping trade market.

   China imported 153.49 million tons of iron ore in January-April, hiking 20.19 million tons year on year. Calculating on an average daily import of 1.27 million tons, the annual import volume will reach 463 million tons this year, up 80 million tons, and far more than the demand from China's steel production.